You were probably looking at an Axis series. These are Savage's opening price point rifles. They won't have the Accu-trigger or the fit and finish of the standard Savage lines or most likely the Remington ADL which WM also carries. that being said, I'm sure the rifle can take deer at most distances needed. The rifle just may not be as accurate as the main line Savages. If I shot MOA with a main line series, I'm guessing I'd shoot 1.5 or 2 MOA with the Axis.
I've almost never seen a gun drop in value over time, so if you don't have the money for a main line series, you won't probably lose money, although the Remington may be better from an "investment" value. Me, I'd buy a gun to shoot.